Chile: GeoPark developing Magallanes basin oil field

GeoPark Holdings Ltd. will drill two to three more wells in 2013 in Konawentru oil field on its 100% owned Fell block in the Magallanes basin in southern Chile.

The 2011 discovery well, Konawentru-1, is making 1,120 b/d of oil, and its cumulative production exceeds 710,000 bbl of oil.

The most recent completion, Konawentru-4, went to 3,102 m total depth and flowed 730 b/d of oil with 462 psi wellhead pressure on a 10-mm choke on a production test of Jurassic Tobifera open hole at 3,031 m. Surface facilities are in place, and the well is to be produced at 700 b/d initially until production history has indicated a stabilized flow rate.

Further development of the field will begin immediately with the drilling of the Konawentru 3 well.